Most expensive car bought at auction

October 26, 2014
1956 Ferrari 290 MM by

Ferrari 250 GTO Berlinetta.Source: Bonhams

Ferrari 250 GTO Berlinetta.

Ferrari GTOs tend to be among the holy grails of this vehicle auction world. Ferrari made just 36 of these (or 39 if you include different versions), and they were the prominent cars associated with the mid-1960s.

GTOs seldom show up on the market, as soon as they are doing they often trade-in key, exclusive sales that can seldom be confirmed. This past year, a GTO offered in a personal sale for $52 million, specialists said. But it's already been over 10 years since a GTO has been sold at a public auction. Even though many kinds of high-end collecting cars went up in value recently, GTOs are now actually in course by themselves. Just a decade ago, GTOs had been offering for about ten dollars million.

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The GTO marketed by Bonhams had been the 19th created by Ferrari and had been delivered in 1962 to a French sporting motorist known as Jo Schlesser. The vehicle came in second in 1962 Tour de France.

The same 12 months, it crashed during a race at Montlhéry, near Paris. The motorist, Henri Oreiller, ended up being killed when you look at the crash. That made the automobile really the only GTO to be associated with a fatal crash, which some predicted could affect its sale cost.

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But its subsequent life included with its value. Following the crash and repairs, it was bought by Fabrizio Violati, an Italian vehicle buff and heir to an Italian mineral-water company. Violati raced the car in European mountain-climb events and classic-car challenges throughout Europe before the 2000s. It became the centerpieces of their famed Ferrari museum—known whilst the Maranello Rosso Collection—in San Marino. Staying with these types of a well-known owner for 49 years enhanced the automobile's status.

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Violati died this season, along with his family recently sold the collection to several people for longer than $100 million, according to individuals acquainted the offer. Those investors sold the GTO alongside some other Violati Ferraris through Bonhams.

Source: www.cnbc.com
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